LOAN PROGRAM

The Montgomery County Economic Development Corporation’s (MCEDC) Accelerating Community Excellence (ACE) Loan Program serves small businesses in our region. MCEDC was selected as a fund manager to lead the ACE Loan Program by the Video Lottery Terminal (VLT) Program. With LEDC’s strong track record of services to entrepreneurs in the Greater Washington-Baltimore region, we are partnering as the program’s fiduciary agent to disburse these loans businesses in Montgomery County and throughout Maryland.

PRE-QUALIFICATION FORM

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MORE INFORMATION ABOUT ACE

The ACE loan program is part of the state Dept. of Commerce’s VLT loan program, created to serve small businesses with a percentage of the proceeds from video lottery terminals from the state’s six casinos. At least 50% of the VLT program funds must be deployed to eligible small businesses located within a certain targeted radius surrounding the state’s six casinos. Since there are no Montgomery County casinos in Maryland, the MCEDC-managed ACE program will target the remaining 50% of its funding to eligible Montgomery County small businesses.

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